1. I think the most intelligent use of resources that would have become available through cancelling the V2 and V3 (multi-chambered gun intended to bombard London) would be to produce more jet fuel and avgas. In OTL many German jet and prop fighters sat around air fields unused during the last months of the war, and simply producing more Messerschmitt 262 would just add to that number of unused planes.
Having more fuel would greatly increase the number of fighter planes in the air, which then could have prevented some of the damage to the transport infrastructure in Germany and the countries it occupied. More fuel would also greatly increase the effectiveness of German ground troops.
I do not know what kind of measures were neccessary to get more fuel. In the most favorable scenario, it might be enough to mine more coal, to be liquified in existing plants. In a more difficult scenario, more plants have to be built, or more oil wells must be opened in Romania.
It might also boost the German war effort to have more workers available to repair damage to the coal liquifaction plants and the transport network.
2. Possibly the second most effective use of freed resources is making the Me 262s engines more reliable. Quite possibly the non-ferrous metals used up in the V2s themselves might be enough to do this, but even if this is not enough, some of the money used for the V2 might be used for buying the materials needed. Again, this greatly increases the number of fighters actually available for combat.
3. Developing a proximity fuse for use in the R4M air-to-air rocket and AAA shells also greatly strengthens Gemany's defences against air attacks. Even assuming that the resources used up for the V2 and V3 no longer pay for this, if they have been used up for points 1 and 2, the direct results of having many more jet and prop fighters available may be enough to allow for this, which in turn makes many more resources available, that were not destroyed due to the proximity fuses greater effectiveness in destroying Allied bombers.
As Derek Jackson said, it is difficult to imagine that this would turn the tide of the war, but it would result in hundreds of thousands of additional dead allied soldiers. It probably would result in Germany's being nuked, and possibly also in Germany becoming occupied totally by the Soviet Union, if the results of the measures mentioned above are enough to change the outcome of the Battle of the Bulge.
Having more fuel would greatly increase the number of fighter planes in the air, which then could have prevented some of the damage to the transport infrastructure in Germany and the countries it occupied. More fuel would also greatly increase the effectiveness of German ground troops.
I do not know what kind of measures were neccessary to get more fuel. In the most favorable scenario, it might be enough to mine more coal, to be liquified in existing plants. In a more difficult scenario, more plants have to be built, or more oil wells must be opened in Romania.
It might also boost the German war effort to have more workers available to repair damage to the coal liquifaction plants and the transport network.
2. Possibly the second most effective use of freed resources is making the Me 262s engines more reliable. Quite possibly the non-ferrous metals used up in the V2s themselves might be enough to do this, but even if this is not enough, some of the money used for the V2 might be used for buying the materials needed. Again, this greatly increases the number of fighters actually available for combat.
3. Developing a proximity fuse for use in the R4M air-to-air rocket and AAA shells also greatly strengthens Gemany's defences against air attacks. Even assuming that the resources used up for the V2 and V3 no longer pay for this, if they have been used up for points 1 and 2, the direct results of having many more jet and prop fighters available may be enough to allow for this, which in turn makes many more resources available, that were not destroyed due to the proximity fuses greater effectiveness in destroying Allied bombers.
As Derek Jackson said, it is difficult to imagine that this would turn the tide of the war, but it would result in hundreds of thousands of additional dead allied soldiers. It probably would result in Germany's being nuked, and possibly also in Germany becoming occupied totally by the Soviet Union, if the results of the measures mentioned above are enough to change the outcome of the Battle of the Bulge.